Q2 results approved; auditor issues qualified conclusion on ₹8.50 crore investment valuation
Integra Essentia's board met on October 31, 2026 and approved the unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 14,197.02 | 12,067.36 | +17.6% | 11,190.83 | +26.9% |
| Total income | 14,305.11 | 12,156.47 | +17.7% | 11,302.07 | +26.6% |
| Profit before tax | 165.77 | 160.91 | +3% | 88.81 | +86.7% |
| Profit after tax | (2.26) | 108.97 | — | 1.89 | — |
| Total comprehensive income | (2.27) | 109.60 | — | 1.94 | — |
| Basic EPS | (0.00) | 0.01 | −100% | 0.00 | — |
- Period
- Quarter Ended 30-Sep-26
Auditor's review
Conclusion: Qualified
- Investments of ₹8.50 crore (Nakshatra Special Situation Fund ₹7.50 crore and others ₹1.00 crore) not supported by sufficient evidence of fair valuation under Ind AS 109.
- Other matter: associate Brewtus Beverages Pvt. Ltd. results (loss of ₹0.22 lakhs for half year) are management-certified and unreviewed; conclusion not modified on this.
Notes to the results
- Revenue from operations includes remeasurement gain/loss on investments at FVTPL: 30.07 lakhs in the quarter ended 30-Sep-26.
- Investments in unquoted shares/securities and business projects by MoU are subject to fair valuation and have been kept at book value.
- Expenses of ₹25.00 lakh incurred for the rights issue of shares were adjusted against Other Equity during the quarter ended 30 September 2026.
Board outcome and the auditor's conclusion
Integra Essentia's board met on Saturday, October 31, 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. Figures below are in lakh, as printed.
A qualified conclusion, and why
The statutory auditor, A K Bhargav & Co, signed its limited review with a Qualified Conclusion, not a clean one. The qualification turns on how investments are valued.
- The company holds investments of ₹8.50 crore as at September 30, 2026.
- Units of the Nakshatra Special Situation Fund make up ₹7.50 crore of that.
- These investments are required to be carried at fair value. In the absence of sufficient evidence on that fair value, the auditor could not determine whether any adjustment was needed to the carrying amount, or to the fair value changes already recognised in profit and loss.
- On the rest of the statement, the auditor says nothing came to its attention that would suggest it contains a material misstatement.
In plain words: the review is signed off, but one part of the balance sheet - the value of the investment portfolio - is flagged as unverified.
Standalone results, quarter ended September 30, 2026
- Revenue from operations: 14,197.02 lakh
- Total income: 14,305.11 lakh
- Profit before tax: 165.85 lakh
- Profit for the period: (2.19) lakh
The company earned a profit before tax for the quarter, while the bottom line, 'Profit for the period', came in as a small loss after tax.
Right issue funds
- The cash flow statement shows 9,970.09 lakh received from the issue of shares through the right issue, including securities premium.
- Paid-up equity share capital on the balance sheet stood at 17,552.83 lakh as at September 30, 2026.
The same cash flow statement shows the operating side used cash during the half year, while the financing side brought cash in.
Also in the update
- The consolidated statement covers the parent and an associate, M/s Brewtus Beverages Pvt Ltd.
- The company reports two segments: dealing in essential items, and a trading division for infrastructure.
- The results were reviewed and recommended by the Audit Committee and then approved by the Board; the auditor's work is a review, which gives less assurance than a full audit.
What a retail investor can track
- The reported profit is thin at the net level, so small changes in costs or in the value of investments can swing the bottom line.
- The right issue has enlarged the equity base, which matters when you look at per-share figures such as earnings per share.
- The single open point raised by the auditor is the fair value of the investment portfolio, which feeds directly into reported profit.
Also from Integra Essentia
Board meeting on October 31, 2026 to consider and approve September quarter results
28 Oct 2026
More numbers
- Investments held, subject of auditor's qualified conclusion₹8.50 crore
- Units of Nakshatra Special Situation Fund within those investments₹7.50 crore
- Profit before tax, standalone, quarter ended 30-Sep-26165.85 lakh
- Profit for the period, standalone, quarter ended 30-Sep-26(2.19) lakh
- Proceeds from right issue including securities premium9,970.09 lakh
- Paid up equity share capital as at 30 September 202617,552.83 lakh
- Total income, latest quarter14,305.11 (in lakhs)
- Total income, year-ago quarter12,156.47 (in lakhs)
- Total income, previous quarter11,302.07 (in lakhs)
- Total comprehensive income, latest quarter(2.27) (in lakhs)
- Total comprehensive income, year-ago quarter109.60 (in lakhs)
- Total comprehensive income, previous quarter1.94 (in lakhs)
- Profit after tax, latest quarter(2.26) (in lakhs)
- Profit after tax, year-ago quarter108.97 (in lakhs)
- Profit after tax, previous quarter1.89 (in lakhs)
- Revenue from operations, latest quarter14,197.02 (in lakhs)
- Revenue from operations, year-ago quarter12,067.36 (in lakhs)
- Revenue from operations, previous quarter11,190.83 (in lakhs)
- Profit before tax, latest quarter165.77 (in lakhs)
- Profit before tax, year-ago quarter160.91 (in lakhs)
- Profit before tax, previous quarter88.81 (in lakhs)
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